Najib Razak did not instruct US$1.03bil 1MDB fund transfer, court told

KUALA LUMPUR: The High Court here was told that Datuk Seri Najib Razak never directed 1Malaysia Development Bhd (1MDB) to transfer US$1.03bil to a company linked to fugitive businessman Low Taek Jho, also known as Jho Low.

Malaysian Anti-Corruption Commission (MACC) senior officer Nur Aida Arifin said 1MDB’s top management was responsible for the transactions between 1MDB and Low's Good Star Ltd.

The 49th prosecution witness said on Thursday (April 25) that the management consisted of 1MDB's former chief executive, Datuk Shahrol Azral Ibrahim Halmi, former chief financial officer Radhi Mohamad, and former executive directors Terence Geh Choh Heng and Casey Tang Keng Chee.

ALSO READ : Najib was not asked about funds transfer, says MACC witness

The witness, who was cross-examined by Najib's lawyer, Wan Azwan Aiman, agreed with the suggestion that, based on the documents presented in court, the individuals involved had allowed the remittance of the funds to Good Star.

Nur Aida also agreed that during her investigation into 1MDB, she had never asked Najib if he had indeed instructed the transfer of US$700mil to Good Star.

The transfer concerns 1MDB’s joint venture (JV) with Saudi Arabia-based PetroSaudi International Ltd (PSI).

It was previously heard in court that in a joint agreement signed on Sept 28, 2009, 1MDB had injected US$1bil in cash as starting capital for a 40% stake in the JV company, while PetroSaudi Holdings Cayman (purportedly a subsidiary of PSI) injected its assets worth US$108mil for a 60% stake.

However, it was said that US$700mil from the US$1bil was diverted into Good Star.

Throughout the trial, Najib's defence argued that 1MDB's top management had hoodwinked Najib and worked in cahoots with Low.

Najib, 70, is on trial for 25 charges in total - four for abuse of power that allegedly brought him the financial benefit to the tune of RM2.28bil and 21 for money laundering involving the same amount of money.

The hearing continues before Justice Collin Lawrence Sequerah on Friday (April 26).

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Najib Razak , 1MDB , Jho Low , Mazz , High Court , Saudi Arabia ,


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